Question: Determine that advantages and disadvantages of a sole proprietorship.
- What is a general partnership; a limited partnership? What are the Common Terms that are included in a partnership agreement. Is a partnership an entity in Pennsylvania? Can a partnership in Pennsylvania purchase real estate? What is the Uniform Partnership Act?
- Explain an LLC and its advantages/disadvantages.
- What are the classifications of corporations? Explain them.
- What, if any, are the differences between an S (Sub-Chapter S) Corporation and a C (Sub-chapter C) corporation (External research may be required)?
- Explain Piercing the Corporate Veil.